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[QUOTE="Antony_NPBFX, post: 176223, member: 38727"] [size=5][b] NZD/USD: New Zealand dollar declines 31.01.2020 [/b][/size] Good afternoon, dear forum visitors! [url= https://www.tb.marketinstructor.com/?referer1=earnforex.com] NPBFX[/url] offers the latest release of analytics on NZD/USD for a better understanding of the current market situation and more efficient trading. [b] Current trend [/b] Today, during the Asian session, the NZD/USD pair is falling, continuing to develop an active “bearish” impulse formed at the end of the last trading week. Now, the New Zealand dollar has lost about 0.10%, trading near local lows of December 2, 2019. NZD is under pressure, despite the publication of controversial macroeconomic statistics from the United States, which is also due to the growth of anxiety about the spread of coronavirus. Macroeconomic statistics from New Zealand also negatively affect the instrument. Thus, the level of consumer confidence from ANZ in January fell from 123 to 122.7 points, which turned out to be worse than the average expectations of analysts. [b] Support and resistance [/b] On the daily chart, Bollinger bands are steadily declining. The price range is expanding but not as fast as the downward dynamics develop in the short/medium term. The MACD indicator goes down, maintaining a strong sell signal (the histogram is below the signal line). Stochastic maintains a downward trend but is near its lows, which signals an increase in risks associated with the oversold New Zealand dollar in the ultra-short term. It is better to keep the current short positions in the nearest time intervals until trading signals from the indicators are clarified. Resistance levels: 0.6500, 0.6521, 0.6539, 0.6553. Support levels: 0.6464, 0.6436, 0.6400. [img]http://businesspr-finance.com/wp-content/uploads/2020/01/nzd-3-1.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2020/01/nzd-4-1.png[/img] [b] Trading tips [/b] Long positions may be opened after a rebound from 0.6464 and a breakout of 0.6500 with the target at 0.6553 or 0.6580. Stop loss – 0.6464–0.6450. Implementation period: 2–3 days. Short positions may be opened after the breakdown of 0.6464–0.6450 with the target at 0.6400. Stop loss is no further than 0.6500. Implementation period: 1–2 days. [b]Use more opportunities of the NPBFX analytical portal: economic indicators [/b] Regular monitoring of global economic indicators plays an important role in trading, because of their strong influence on FOREX market and possibility to provoke significant price fluctuations. For the convenience of traders the "Education" section on the NPBFX portal contains the most popular and significant world economic indices with a detailed description, their possible impact on the economy and exchange rates (GDP, consumer price index, unemployment rate, Nonfarm Payrolls (NFP), etc.). If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on NZD/USD and trade efficiently with [url=https://my.npbfx.com/register/?utm_campaign=register&utm_medium=forumpost&utm_source=earnforex]NPBFX[/url]. [/QUOTE]
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